Tools commonly used in the Market Research & Analysis industry for day-to-day tasks and operations.

• Survey software
• Data visualization tools
• Statistical analysis software
• Social media monitoring tools
• Focus group software
• Online panel management software
• Eye-tracking software
• Heat mapping software
• Customer relationship management (CRM) software
• Competitive intelligence software

Common products and services typical of NAICS Code 541910-01, illustrating the main business activities and contributions to the market.

• Consumer goods market research
• Healthcare market research
• Technology market research
• Automotive market research
• Financial services market research
• Retail market analysis
• Hospitality industry research
• Media and entertainment market analysis
• Real estate market research
• Food and beverage market analysis

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Professional Researcher Certification (PRC): The Insights Association provides this certification to individuals who have demonstrated their knowledge and expertise in market research. The certification requires passing an exam and meeting certain education and experience requirements.
• Certified Analytics Professional (CAP): The Institute for Operations Research and the Management Sciences (INFORMS) offers this certification to individuals who have demonstrated their expertise in analytics. The certification requires passing an exam and meeting certain education and experience requirements.
• Certified Market Research Professional (CMRP): The Marketing Research Association provides this certification to individuals who have demonstrated their knowledge and expertise in market research. The certification requires passing an exam and meeting certain education and experience requirements.
• ISO 20252:2019: This international standard specifies requirements for market, opinion, and social research. Compliance with this standard demonstrates that a market research firm has established a quality management system and is committed to providing high-quality research services.
• General Data Protection Regulation (GDPR): This regulation, enforced by the European Union, sets guidelines for the collection, use, and storage of personal data. Market research firms that collect data from EU citizens must comply with GDPR.

A concise historical narrative of NAICS Code 541910-01 covering global milestones and recent developments within the United States.

• The Market Research & Analysis industry has a long history dating back to the early 20th century when the first market research studies were conducted in the United States. The industry has since grown to become a global phenomenon, with market research firms operating in every corner of the world. Notable advancements in the industry include the development of new research methodologies, such as online surveys and social media analytics, which have revolutionized the way market research is conducted. In recent years, the industry has also seen a rise in demand for big data analytics, which has led to the development of new tools and technologies to help companies make sense of the vast amounts of data available to them. In the United States, the Market Research & Analysis industry has experienced significant growth in recent years, driven by the increasing demand for data-driven insights by businesses across all sectors. The industry has also benefited from the rise of e-commerce, which has created new opportunities for market research firms to collect data on consumer behavior. Notable milestones in the industry's recent history include the development of new research techniques, such as mobile surveys and eye-tracking technology, which have helped to improve the accuracy and reliability of market research data. Overall, the Market Research & Analysis industry has played a critical role in helping businesses to make informed decisions and stay ahead of the competition.

The anticipated future trajectory of the NAICS 541910-01 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The market research and analysis industry in the USA is expected to grow in the coming years due to the increasing demand for data-driven insights to make informed business decisions. The industry is expected to benefit from the growing adoption of big data analytics, artificial intelligence, and machine learning technologies. The industry is also expected to benefit from the increasing demand for customized research solutions that cater to the specific needs of businesses. However, the industry may face challenges due to the increasing concerns over data privacy and security, which may lead to stricter regulations. Additionally, the industry may face competition from in-house research teams that are becoming more common in large organizations.

Recent groundbreaking advancements and milestones in the Market Research & Analysis industry, reflecting notable innovations that have reshaped its landscape.

• AI-Powered Market Research Platforms: These platforms use artificial intelligence and machine learning algorithms to analyze large volumes of data and provide insights to businesses. They help businesses to make data-driven decisions quickly and efficiently.
• Mobile Research Solutions: Mobile research solutions allow businesses to conduct research on-the-go and collect data from respondents in real-time. They help businesses to get quick insights and make informed decisions.
• Social Media Analytics: Social media analytics tools help businesses to analyze social media data and understand consumer behavior and preferences. They help businesses to identify trends and opportunities in the market.
• Virtual Reality Research: Virtual reality research allows businesses to conduct research in a simulated environment. It helps businesses to test products and services in a controlled environment and get feedback from consumers.
• Blockchain-Based Research Solutions: Blockchain-based research solutions provide a secure and transparent way to collect and analyze data. They help businesses to ensure data privacy and security and build trust with consumers.